The loss-making social network may have turned a corner as its user numbers start to grow again.
(CCM) — Twitter is no longer on the critical list and the latest business report suggests its future may be getting brighter, according to a Bloomberg news story.
The social network's losses have fallen to just $21.1 million in the last quarter, and its revenues of $589.6 were better than expected due to the success of its video advertising and data-licensing platforms. Worryingly for the company, its U.S. advertising revenues fell 11% compared to the same period last year, although this was more than offset by booming international advertising advertising revenues, which grew by 6%.
More importantly, Twitter's daily active user count increased by an astonishing 14%, the fourth consecutive quarter of double-digit growth. The company believes that changes to the platform, making it easier to use, and more exposure from global events account for the gain in new users. The fact that the platform is President Trump's favored communications tool is also likely to have raised Twitter's profile among potential users.
The company said: "We expect to see fewer Tweets running into the character limit over time," perhaps hinting that it plans to allow longer messages on the platform in the foreseeable future. In September 2017 the company began relaxing the 140 character limit, extending it for some users to 280 characters.
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